How do you find the value of a physical product over a period of time?

What is marginal product?

The marginal product of an input, say labour, is defined as the extra output that results from adding one unit of the input to the existing combination of productive factors.

What is marginal product answer?

Marginal product is referred to as the additional product that is produced as a result of adding an additional unit of input. In other words, a change in the production output due to a change in the production input is known as marginal product.

What is marginal product with example?

Example of the Marginal Product of Labor
When one cook is hired, the restaurant’s production may increase to 10 meals, yielding a positive MPL of 10. When a second cook is hired, the restaurant’s production may increase to 18 meals, yielding an MPL of 8.